In part one of this two-part blog series, we went over some of the simple facts to be aware of when it comes to appraisals in the real estate market. Performed to assign a professionally-determined value to a property's value during the sale process, the appraisal is one of the single most important parts of any homebuying situation. 

At Daybreak Living, we're happy to assist our clients as they move through the process of looking to buy a home in Daybreak, Utah from any of our beautiful villages and neighborhoods. This incudes important pieces of the process like the appraisal, which we'll help you understand fully when the time comes. Today's part two of our series will go over a few additional facts to be aware of regarding real estate appraisals.

There are several important steps that take place during the homebuying process, and one of these involves the professional, objective evaluation of the value of a given property. This is known in the real estate world as the appraisal process, and it's one that all buyers should be aware of as they begin scouring the market. 

At Daybreak Living, we're happy to walk our prospective buyers through all the important parts of the process if they're looking to purchase any of our homes, condos or townhomes for sale in Utah. This includes all the valuation elements that may go into your process, such as appraisal. What is appraisal, why is it required, and what are some other important details to be aware of? We'll go over everything in this two-part blog

Is Utah's housing marketing starting to mirror that of San Francisco and the Bay Area?  According to Bankrate.com, Utah has been deemed the "king of its national housing heat index".  Why is Utah such a desirable place to live amidst a world wide pandemic?  Utah boasts the nation's strongest pace of job growth, near rock-bottom unemployment rate, low mortgage rates, and low state and local taxes. When Covid-19 began, and working from home started to look more like a permanent solution to stopping the spread of the virus, many Bay Area residents started searching for a new place to live.  The East Bay Times reported that nearly 115,000 residents moved out of the Bay Area.  The situation was quite opposite for the state of Utah; people flocked here, but for

High density housing is on the rise throughout Salt Lake County and has been for the past 10 years, but what affect has it had on the housing market, like single-family homes? The University of Utah did a study on this subject and found that the increase in high density housing actually increased the value of single-family homes.  The study concluded that Salt Lake County homes that were located within .5miles of new apartment complexes experienced a 10% annual increase in the average value.  This was in comparison to single-family homes located further away from apartment projects. The research also narrowed the findings into four quadrants and found that the most value occurred in "West" Salt Lake Country, which is comprised of Rose Park, West Valley

Daybreak has been deemed #5 in the U.S. for Top-Selling Master-Planned Communities of Mid-Year 2020! Year to date new home sales in Daybreak are up 40%! All this despite living through a pandemic. New home sales did have a small hit in March and April as stay-at-home orders we implemented. However as restrictions lifted there was a sudden surge of demand in home sales. 

Communities, like Daybreak, that are able to offer a variety of housing options and different price points continues to be key for growth in these master planned communities. Low inventory coupled with high demand keep builders and development busy expanding these areas. 

For more details

According to USA Today, South Jordan is among the top 50 cities in America to live in.  A contributing factor in South Jordan achieving this status is the rapid growth of Daybreak, attracting 400+ new residents a year.   Once completed, Daybreak will nearly double the size of South Jordan, which currently has just over 69,000 residents.   Other factors include the 4.1% poverty rate and 3.0% unemployment rate.  What does this mean for those looking to buy or sell in the 84009? According to the Salt Lake Board of Realtors' third quarter statistics, South Jordan ranked number 9 out of 10 for most expensive zip codes along the Wasatch Front.  The average price for a home in South Jordan is $441,592, a hike of 8% compared to last year's third quarter stats. 

This home was built by the same builder and is the same floor plan in Daybreak. Both of these homes were listed in the summer with top real estate agents. However, the result is very different…

HOUSE A

Sold for $83,000 less Than House B!!! 4 months on Market. Had an extra Fireplace in Master and 2nd Kitchen in Basement. Same style of flooring and paint as House B.

 HOUSE B

goBE SOLD by Utah Dave! Sold for $83,000 More than the other listing! Sold in the First Weekend on market. 

When choosing a good Realtor to work with make sure you choose one that has experience and PROOF of RESULTS! Call 801-966-4000 to see more proof.

Daybreak is one of our favorite places to sell homes! In fact many of our Realtors not only specialize in the area but they also live in Daybreak. The Daybreak community was ranked as one of the bestselling master planned communities in the United States for 2015 by real estate advisory firm RCLCO (Robert Charles Lesser & Co., LLC) and John Burns Real Estate Consulting.

In 2015, 415 homes were sold in Daybreak, which resulted in a 23 percent increase over 2014. Dave Robison and Julie Holmes were the Top New Realtor Home Sales in Daybreak for 2015. Since the beginning of January 2016, an amazing 67 homes have been sold. We are off to a robust start this year!

EXHIBIT A: Listed with a different Brokerage

The home above was on the market 4 months and NEVER SOLD. Last listed at $339k (Below what we sold the exact home for shown below) This home has 3 tone paint, real hardwood floors, updated colors, and modern white kitchen with granite and backsplash. It's also partly fenced.

EXHIBIT B: Listed with Utah Dave @ goBE Realty

Meanwhile, this home sold for $340k in 3 weeks.   It only has 2 tone paint and brown colors. Formica counters throughout kitchen and upstairs instead of granite like the home above.​ Laminate hardwood not real hardwood floors. Also, no fence on this home as opposed to the partially fenced home that dind't sell. The only other difference between this home and the one above

A huge shout out to our goBE Realty Sales Team. Yesterday at the exclusive Daybreak Awards Ceremony goBE Realty was awarded the Top Real Estate Office Sales in Daybreak for 2015. That's not all though; Utah Dave was awarded the Top Sales Agent for New Home Sales in Daybreak for 2015! We also sold a total of 65 homes in Daybreak in 2015 alone. In addition the goBE team sold a total of 170 homes from Davis, Salt Lake, and Utah Counties. Give a "like" to help us congratulate this amazing team. — with David Marrott, Ryan Aycock, Josh Mills, Barbara Neilson Mills, Dave Robison, Julie Holmes,Tammy Burton Casper and Durven Wilson.